Casino talks finances with commission

March 25, 2013

CHARLES TOWN - As Maryland gets ready to open up another casino in Baltimore, officials at Hollywood Casino at Charles Town Races are keeping that in mind, but not becoming nervous.

Al Britton, general manager of the racetrack, spoke to the Jefferson County Commission Thursday on the impact the Maryland casino could have, in addition to adding table games to those already existing, and also the proposed Senate Bill 455.

If passed, SB455 would reduce the number of races per year to a minimum of 150 at the West Virginia racetrack, and decrease purse values.

"I want to point out that is the minimum days required," Britton said. "Currently the minimum is 220 days, but we have negotiated with the horsemen to run 235 days. If that bill were to be successful, it does not mean that Charles Town races would go to 150 days."

As for the Maryland casinos, Britton said Charles Town took a hit when Maryland Live! opened last June in Anne Arundel County with a decline in revenues between 15 and 17 percent. As of April 11, Maryland Live! will add table games to its list of attractions.

"Another piece of competition is not too far behind," Britton said, as the city of Baltimore prepares to open a full casino, and yet another will appear in National Harbor, just outside of Washington, D.C.

To date, Penn National, who owns the casino in Charles Town, has invested more than $400 million in the property. Britton said this is part of the reason the casino has fared so well with the changes in surrounding areas.

"Those areas comprise our primary markets. We are happy to say we feel we are in a good position to compete," Britton said. "I think we are all pleased with our ability to compete with Maryland Live! thus far."